The IHR board recommends shareholders accept the Humanforce 24 cents/share offer in the absence of a superior proposal. Pic: Getty Images
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The play for HR-services provider IHR has taken another twist today.
In an announcement yesterday IHR said the The Access Group didn’t intend to exercise its right to increase its existing 23.5 cents offer for IHR by way of an off-market takeover bid and scheme of arrangement, announced on April 3, 2023.
As a result, the IHR Board Committee recommended that shareholders accept the Humanforce on-market takeover bid at 24 cents/share.
IHR today informed the market of TAG’s formal withdrawal and said it also advised that it will not make a takeover offer to all shareholders of the company within two months of the date of the TAG takeover proposal.
IHR said TAG has also sought payment of the break fee of $747,980 plus GST from the company purportedly pursuant to the Transaction Implementation Deed (TID) announced on March 29, 2023.
IHR said it is considering its position in relation to the break fee with TAG also requesting consensual termination of the TID.
IHR said its board reiterates its recommendation that shareholders accept the Humanforce 24 cents/share offer in the absence of a superior proposal.
The global drones-as-a-service provider has confirmed its first contract for the sale of Strayos’ AI data and visualisation platform to a gold mining customer in the Democratic Republic of Congo under its revised business model.
While noting the contract is not individually financially material to the company, DLT said the contract marks its first software licensing sale agreement under its recently signed software distribution partnership with Strayos (AirZaar Inc) covering Australia and Africa.
The 12-month agreement consists of a software licence (subject to annual renewal) and hardware sale which also includes the provision of consulting and training services.
The software licence component will contribute to the Company’s Annual Recurring Revenue (ARR) and Total Contract Value (TCV) metrics.
DLT CEO Christopher Clark said in reformulating its business model, the company identified Strayos as a partner due to its high value-adding AI software capabilities delivered in combination with DLT’s global drone data capture business, which ultimately improves the overall mine-to-mill workflow for clients and prospective customers.
“Having only recently announced our partnership with Strayos, we are extremely pleased to have concluded our first software deal with a gold miner,” he said.
“This is an integrated sale of both software and hardware, confirming our revised integrated business model.
“This deal, even though initially small, is testimony of the movement by the mining industry to digitise mining operations and garner new insights.”
ATV has announce an initial 10-year strategic deal with existing customer, Lightstorm, which is the digital network infrastructure arm of US private equity company I Squared Capital and specialises in building infrastructure for hyperscale networking in Asia Pacific and Middle East.
With ActivePort’s multi-vendor orchestration solution as a core component, Lightstorm built a network-as-a-service (NaaS) platform called Polarin.
ATV said the platform allows enterprises to easily manage their network infrastructure and securely deploy a high-availability network in minutes with guaranteed 100% uptime.
ActivePort CEO and MD, Karim Nejaim, said he is pleased Lightstorm has put its trust in its software as a core part of its business and extended its contract both in scope and time, almost one year to the day the strategic partnership first began.
“During this time, Lightstorm have built a cloud-based NaaS platform with ActivePort’s Orchestration solution and end-to-end workflow automation functionality,” he said.
“We look forward to this long-term partnership as we continue to work with Lightstorm to build products and services and be a key part of their success from the Middle East, through India and into Southeast Asia.”
“Lightstorm’s NaaS Polarin platform is ready for general availability and this agreement extends our ongoing relationship with ActivePort to a strategic one as we continue to enrich our platform,” Lightstorm CTIO Lalit Chowdhary said.
“We are excited for this next phase of growth and working together with the team at ActivePort as we expand globally.”
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